Republic of Tunisia／Reinsurance for solar photovoltaic power project - Collaborative project with MIGA -

Nippon Export and Investment Insurance (NEXI, Chairman and CEO: Atsuo Kuroda) has decided to provide reinsurance coverage for a guarantee issued by the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group for the investment by AEOLUS SAS, a group company of the Toyota Tsusho Corporation, in a solar photovoltaic power project in the Republic of Tunisia (the Project). The Project will be developed jointly with Scatec ASA, a Norwegian company.

NEXI has been collaborating with MIGA by providing reinsurance coverage to promote investment or financing for projects involving Japanese companies. In 2024, NEXI provided reinsurance coverage for MIGA’s guarantee covering AEOLUS SAS’s investment in a solar power project in Tunisia, which was implemented through a local joint venture established with Scatec ASA . The Project is a follow-on project to the previous investment, and NEXI will again provide reinsurance for MIGA’s guarantee covering AEOLUS SAS’s investment in the Project.

The Government of Tunisia is actively promoting the deployment of renewable energy and aims to increase the share of renewable energy in total electricity generation to 35% by 2030. The Project is expected to support Tunisia's efforts to advance the energy transition and contribute to addressing the country's growing energy demand.

As Japan's official export credit and investment insurance institution, NEXI will continue to support Japanese companies in developing their business in Africa and in contributing to global decarbonization efforts.

Contact:
Overseas Investment Insurance Underwriting Group Ⅱ
Investment Insurance Department
Tel: +81-(0)3-3512-7600

¹ News release on August 7, 2024　https://www.nexi.go.jp/en/topics/newsrelease/202408190458.html